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T3 Diamonds founder Tshepo Molusi told Rough & Polished’s Mathew Nyaungwa at the inaugural South Africa Diamond Show in Cape Town that the shop opened an opportunity for diamond manufacturers under the incubation to export their products to China. He...

Yesterday

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10 february 2025

Edahn Golan: Halo effect from lab-grown diamonds driving high demand for large, 2-carat natural stones in the U.S.

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African Diamond Council makes traceability its top priority, wants KP to embrace Authentia.io

The African Diamond Council (ADC) has made traceability its foremost priority and has been contributing to a traceability solution called Authentia.io for the last three and a half years, which is now ready to globally satisfy the traceability...

16 december 2024

Gemfields March emerald auction realises average price of $4.45/ct

26 march 2024

Gemfields sold 3.85 million carats of rough emeralds from its 75%-owned Kagem mine in Zambia for $17.1 million during the March auction.

The emeralds were sold at an average price of $4.45 per carat.

It sold 2.97 million carats of emeralds in March 2023 at an average price of $7.13 per carat, generating $21.2 million in revenue.

Gemfields had offered 4.17 million carats, or 43 lots, for sale, but only 40, or 93%, were sold.

The 47 auctions of Kagem gemstones held since July 2009 have generated just above $1 billion in revenues.

“We are pleased to conclude another successful Kagem auction, demonstrating that the commercial-quality emerald market remains in good shape and prices achieved are broadly in line with the September 2023 commercial-quality auction,” said Gemfields’ managing director of product and sales, Adrian Banks.

He said the parcels accounted for 55% of the auction by weight, resulting in the lower overall dollar-per-carat figure realised at this auction.

“The three unsold lots were also not typical auction grades, being one large cluster of low-quality crystals and two lots of ‘Fines’ comprised of small-size material, said Banks.

“We now look forward to our next higher-quality emerald and mixed-quality ruby auctions to be held in Bangkok over May and June 2024.”

Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished